what a bastard , preying on someone who are not too familiar with bitcoin and cryptocurrencies
anything named "Satoshi Nakamoto" would discourage me from sending coins instantly
to me a fund named that cannot be something serious , since Satoshi has disappeared and none knows where or what is he
imagine trusting your money to a fund that could do the same one day ( no offense to real Satoshi - he is a genius )
astounded by the figures he managed to steal , almost 700 bitcoins with 0.1 btc this means 7.000 people fell victim
Topic: ‘Satoshi Nakamoto’ Scamming Senior Citizens With Bitcoin Retirement Plan (Read 325 times)
November 24, 2019, 05:45:21 PM
November 24, 2019, 12:17:16 AM
When someone hears about huge returns then they should assume it as probably scam
I know that the world of scamming is to entice people and to make sure they are aware that it’s possible to have that kind of return but it's not to realistic or at least possible with just investing. I have seen traders get the huge profits with big swings so it depends on how they are going to get it. 
November 23, 2019, 09:08:31 PM
When someone hears about huge returns then they should assume it as probably scam
I know that the world of scamming is to entice people and to make sure they are aware that it’s possible to have that kind of return but it's not to realistic or at least possible with just investing. I have seen traders get the huge profits with big swings so it depends on how they are going to get it. This world filled with people who have thought of becoming rich but have no idea about how to become one.
Understandably, no one has an idea of how to become one at the start of their careers or businesses; it's up to the person's will to do it and to not be lazy enough to rely on those kinds of schemes. No millionaires were born from investing on such things they either create that investment plans or invest on something with realistic returns.
For the investing part, there are a lot of millionaires born from it. It's either you are at the top of the food chain or not; that's how they can become a millionaire or just a victim of that scam. November 23, 2019, 04:38:25 PM
Joerg Molt is one of several individuals claiming to be the identity behind the pseudonym, Satoshi Nakamoto. He is also still operating what appears to be a Ponzi scheme from 2017, potentially defrauding seniors with a so-called ‘Bitcoin Pension’ plan.
Since the launch of the scheme, Molt has scammed an estimated 7,000 people out of at least 0.1 Bitcoin (BTC) each. At today’s rates, this is equivalent to stealing 700 BTC worth over $6 million. Though according to information released in a 2018 video, this could be as much as $25.8 million.
You can read more here for the full news
This is really bad. Ruining the reputation of the true Satoshi Nakamoto (not Faketoshi Craig Wright of course) to scam senior citizens with his “Bitcoin Ponzi” pension program.
This one’s quite similar to the other ponzi programs that I’ve encountered here in the Philippines. I just don’t know guys, but scammers are innovative and creative in creating scams like this. This is so difficult to be stopped because of the innovative minds that these scammers have.
What would be your thoughts about this one guys? Let me know. Cheers!
November 23, 2019, 03:33:17 PM
The reason I got into cryptocurrency later was the lack of trust for internet fund exchange and have seen so many gullible people take the risk with so much fund, they didnt care to know any about the space themselves, giving it out to fraudsters. They never got any second thought, some gave money to friend on the social media without any form physical acquaintance.
November 23, 2019, 03:31:55 PM
its about time they call Saul Goodman.
you have to be the baddest scammer of all time to target senior citizen's retirement money. and as well as the money intended for their burial.
claiming to be satoshi is paying well for him. $6M is worth a fortune, i don't know if he can hide his face to the public though. he better hide because somewhere someone is going to recognize him.
you have to be the baddest scammer of all time to target senior citizen's retirement money. and as well as the money intended for their burial.
claiming to be satoshi is paying well for him. $6M is worth a fortune, i don't know if he can hide his face to the public though. he better hide because somewhere someone is going to recognize him.
November 23, 2019, 03:17:06 PM
Well, there's nothing we can do. There are many bad people who wanted easy money just for their own sake and the sad part as bitcoin enthusiasts they used Bitcoin for their market strategy just to fool people. We can help those naive citizen people and they should aware of this kind ponzi scam. We can advise them not to join any program related to Bitcoin and claiming retirement plan. Indeed, just store their own bitcoin and buy a wallet for safe storing.
November 23, 2019, 03:02:12 PM
There are different reasons why someone would try Ponzi Schemes, and The most common interest is profit. It turns us, humans, into greedy creatures. I'm just aware that there are a lot of people who want the EASY money and EASY profit. That’s why some people have kept on falling into these types of scams.
The most important thing to consider with this is the reputation of Bitcoin itself. It is surrounded by all the people who are taking advantage of the pseudo-anonymity of BTC. What I don't like is how they take advantage of senior citizens' pension and possibly scamming them more.
There's nothing we could do, but to inform others Of the possible scam approach of it, it is disguised as a multi-level marketing style and all those types to the ones we care about. Ignore and move on.
When someone hears about huge returns then they should assume it as probably scam which is the best way to avoid from ponzi schemes, senior citizen might know these things but still few of them were fell due to their greed so nothing more we can do them to give their funds back.The most important thing to consider with this is the reputation of Bitcoin itself. It is surrounded by all the people who are taking advantage of the pseudo-anonymity of BTC. What I don't like is how they take advantage of senior citizens' pension and possibly scamming them more.
There's nothing we could do, but to inform others Of the possible scam approach of it, it is disguised as a multi-level marketing style and all those types to the ones we care about. Ignore and move on.
This world filled with people who have thought of becoming rich but have no idea about how to become one.
No millionaires were born from investing on such things they either create that investment plans or invest on something with realistic returns.
November 23, 2019, 08:08:33 AM
Joerg Molt is one of several individuals claiming to be the identity behind the pseudonym, Satoshi Nakamoto. He is also still operating what appears to be a Ponzi scheme from 2017, potentially defrauding seniors with a so-called ‘Bitcoin Pension’ plan.
Since the launch of the scheme, Molt has scammed an estimated 7,000 people out of at least 0.1 Bitcoin (BTC) each. At today’s rates, this is equivalent to stealing 700 BTC worth over $6 million. Though according to information released in a 2018 video, this could be as much as $25.8 million.
You can read more here for the full news
This is really bad. Ruining the reputation of the true Satoshi Nakamoto (not Faketoshi Craig Wright of course) to scam senior citizens with his “Bitcoin Ponzi” pension program.
This one’s quite similar to the other ponzi programs that I’ve encountered here in the Philippines. I just don’t know guys, but scammers are innovative and creative in creating scams like this. This is so difficult to be stopped because of the innovative minds that these scammers have.
What would be your thoughts about this one guys? Let me know. Cheers!
November 23, 2019, 02:11:08 AM
There are different reasons why someone would try Ponzi Schemes, and The most common interest is profit. It turns us, humans, into greedy creatures. I'm just aware that there are a lot of people who want the EASY money and EASY profit. That’s why some people have kept on falling into these types of scams.
The most important thing to consider with this is the reputation of Bitcoin itself. It is surrounded by all the people who are taking advantage of the pseudo-anonymity of BTC. What I don't like is how they take advantage of senior citizens' pension and possibly scamming them more.
There's nothing we could do, but to inform others Of the possible scam approach of it, it is disguised as a multi-level marketing style and all those types to the ones we care about. Ignore and move on.
The most important thing to consider with this is the reputation of Bitcoin itself. It is surrounded by all the people who are taking advantage of the pseudo-anonymity of BTC. What I don't like is how they take advantage of senior citizens' pension and possibly scamming them more.
There's nothing we could do, but to inform others Of the possible scam approach of it, it is disguised as a multi-level marketing style and all those types to the ones we care about. Ignore and move on.
November 23, 2019, 01:38:10 AM
Quote
This is really bad. Ruining the reputation of the true Satoshi Nakamoto (not Faketoshi Craig Wright of course) to scam senior citizens with his “Bitcoin Ponzi” pension program.
This one’s quite similar to the other ponzi programs that I’ve encountered here in the Philippines. I just don’t know guys, but scammers are innovative and creative in creating scams like this. This is so difficult to be stopped because of the innovative minds that these scammers have.
What would be your thoughts about this one guys? Let me know. Cheers!
This one’s quite similar to the other ponzi programs that I’ve encountered here in the Philippines. I just don’t know guys, but scammers are innovative and creative in creating scams like this. This is so difficult to be stopped because of the innovative minds that these scammers have.
What would be your thoughts about this one guys? Let me know. Cheers!
I don't think that it's as bad as you think in terms of the negatives that it would bring in terms of bitcoin's reputation. Satoshi's name has been gradually detached from BTC over the past few years anyhow.
Plus, anyone reasonable will know that this scam has nothing to do with BTC or Satoshi.
It would be nice to see some sort of legal repercussion being thrown at him. Especially with how ruthless he seems to be with being comfortable with attending public events, there has bound to be some day where he gets arrested for his wrongdoings.
November 22, 2019, 10:13:46 AM
I feel sad when I hear the elderly become victims of scammers. There should be legal action for scammers who have done of making a loss to seniors. And this case has made the image of bitcoin worse.
Scammers are not new and if you are not careful where you are investing your money and not thinking about what assets your are procuring thinking only about profit you will end up in a big fat scam, every scam should be brought to justice and not just justice for seniors, these events have not brought any negative images but the exchange hacks throughout the history of this market have brought more damage than anything else. 
November 22, 2019, 09:02:02 AM
I feel sad when I hear the elderly become victims of scammers. There should be legal action for scammers who have done of making a loss to seniors. And this case has made the image of bitcoin worse.
November 20, 2019, 05:43:01 PM
Educating people is the best chance to avoid such scams. Such things will keep on coming to the market!
Well no matter how educated you are but things arent already included on the scope of your knowledge will simply put you into these scenarios.This is why scammers would target out those old people due for that kind of reason plus adding up the sweetwords to have a too good to be true returns
on a short span of time and they do easily believe on such lie.
In result on these kind of news where it do really add up negativity towards crypto/Bitcoin as a whole.
November 17, 2019, 11:43:41 PM
The article is using a misleading subject line. Associating Satoshi's name with ponzi scheme is not at all acceptable and we should flag such articles instead of promoting it!
Ponzi scams was an industry before, operating in the name of HYIP. Since the regulatory forces started cracking down on such scams, they were quick to adopt new technologies like cryptos and cleaverly disguised their scams to look like a crypto associated business! That has been going on since the inception of the concept called ICO! Educating people is the best chance to avoid such scams. Such things will keep on coming to the market!
Ponzi scams was an industry before, operating in the name of HYIP. Since the regulatory forces started cracking down on such scams, they were quick to adopt new technologies like cryptos and cleaverly disguised their scams to look like a crypto associated business! That has been going on since the inception of the concept called ICO! Educating people is the best chance to avoid such scams. Such things will keep on coming to the market!
November 17, 2019, 11:04:56 PM
Joerg Molt is one of several individuals claiming to be the identity behind the pseudonym, Satoshi Nakamoto. He is also still operating what appears to be a Ponzi scheme from 2017, potentially defrauding seniors with a so-called ‘Bitcoin Pension’ plan.
Since the launch of the scheme, Molt has scammed an estimated 7,000 people out of at least 0.1 Bitcoin (BTC) each. At today’s rates, this is equivalent to stealing 700 BTC worth over $6 million. Though according to information released in a 2018 video, this could be as much as $25.8 million.
You can read more here for the full news
This is really bad. Ruining the reputation of the true Satoshi Nakamoto (not Faketoshi Craig Wright of course) to scam senior citizens with his “Bitcoin Ponzi” pension program.
This one’s quite similar to the other ponzi programs that I’ve encountered here in the Philippines. I just don’t know guys, but scammers are innovative and creative in creating scams like this. This is so difficult to be stopped because of the innovative minds that these scammers have.
What would be your thoughts about this one guys? Let me know. Cheers!
I am not very much familiar with this new fake Satoshi although I encountered one thread about him here, I Google him and there's a lot of articles that come out about this idiot and this is one of this https://beincrypto.com/a-new-fake-satoshi-appears-claims-to-be-the-co-founder-of-bitcoin/.
He should be stopped and prosecuted if he really is scamming people, so many people have now come out claiming to be Nakamoto to introduce new coins or project and this will put a bad light in Cryptocurrency, of course, he is paying this press people to interview him and put him in a good standing, their target are newbies who do not know the real story behind the real Nakamoto.
November 17, 2019, 05:17:14 PM
Ok, so he was exposed as a fraudulent individual, I mean him posting pictures with Andreas Antonopoulos just 'trying' to look legit? Lol, at least now we really know his personality and do hope that people will stop believing this guy. I feel bad for those who have been scammed by him, by I know karma will catch sooner or later.
November 17, 2019, 11:39:54 AM
According to Molt’s Bitcoin Pension website, investors in the plan pay an average of $500 and will receive 2 Bitcoin after five years. Since the scheme has been running since 2017, this means the first payouts should occur by 2022—if Molt doesn’t mysteriously disappear by then.
Just by claiming that he is Satoshi Nakamoto running a pension fund is a clear indication that this is a scam. Nakamoto himself built Bitcoin as a P2P payment solution and he won't make his creation as some kind of investment for senior citizens. Even if you compare traditional pensions out there a .1 BTC to 2 BTC payout is something they couldn't do as there wouldn't be no money to be made with that kind of rate. This kind of scam is really a bad introduction especially for their elderly as they are being fooled by this type of get easy money type of scheme. The crazy thing about this scam is even if Molt has been named running the operations I don't see any news about the authorities taking any kind of action onto a clear scam like this.
November 16, 2019, 07:13:59 AM
Impersonators of Satoshi Nakamoto who are doing the ponzi scheme to scam innocent people should be put in jail indeed and not allowing them to give a bail so they can't victimize again. It so sad to know this time the target was senior citizens and we know that elders don't have any more the ability to understand very well of complicated things. They should prevent investments at their age if they are only depending on their pensions, they can't afford it if they lose it.
November 16, 2019, 06:46:44 AM
This yet again paints another bad image for bitcoin even though it is not directly responsible for such. People who capitalize on the fact that no one really stepped up to introduce themselves as the genuine Satoshi and come up with some evidence are the kind of person that destroys the image of bitcoin for the unknowing victims of their schemes. If Jorg Molt really runs a ponzi scheme, I'm pretty sure he'd be brought into questioning by their local enforcement offices, and if not then we know for sure that something happened under the table already. Who would have the guts nor the mind to deceive old, retired people off their pensions in order to make themselves rich?
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